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Pre-market trading saw a rise in US stocks linked to the cryptocurrency industry on Wednesday as bitcoin (BTC) surged beyond $59,000 for a fifth day in a row.
The largest cryptocurrency by market value reached its highest point since November 2021 after a 4.8% gain in just 24 hours, but it was still roughly 14% off its all-time high of roughly $69,000. Also rising was the overall cryptocurrency market, with the CD20 adding 3.5%.
The sole cryptocurrency exchange traded in the United States, Coinbase (COIN), increased 3.9% on Tuesday after reaching a 52-week high of $209.94. The biggest corporate bitcoin holder, MicroStrategy (MSTR), increased by 7.5%. The software company reported on Monday that it has added 3,000 more Bitcoin to its 193,000 overall holdings. Of the approved spot bitcoin exchange-traded funds, BlackRock's Bitcoin Exchange-Traded Fund (IBIT) added the most, at roughly 3.9%.
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